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H2B Calculator - Is it simply pass/fail?
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Safe'n'Sound
Posts: 69 Forumite
Just wondered if anyone has any previous experience with this. Is it a simple case of anything red is a bye bye, or can they look at your individual circumstance like an underwriter would? For information, I'm 47% on the 'debt to household income ratio' which has a max of 45%. All the other final calculations pass.
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Comments
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Its a simple pass or fail.
Can you not increase the mortgage term to make it fit?0 -
Ah, thanks. Just changed if from 25yrs to 26yrs (the max I can do) and it has reduced but 1%. So I'm now at 46%.
Still 1% short!0 -
https://www.moneywise.co.uk/news/2019-08-29%E2%80%8C%E2%80%8C/home-buyers-using-help-buy-can-now-take-out-35-year-mortgage
Is the issue that you'll hit retirement age after 26 years?0 -
Yes, I will be hitting early/mid 70's when it's due to expire (the mortgage that is!)0
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